October 30, 2013 / 12:33 PM / 6 years ago

CANADA STOCKS-TSX may open higher as investors pin hopes on Fed

Oct 30 (Reuters) - Canada’s main stock index looked set to open higher on Wednesday as investors widely expect the U.S. Federal Reserve to continue with its current stimulative monetary policy stance until the next year.


* The Federal Reserve is expected to maintain its massive bond-buying campaign when it concludes a two-day meeting on Wednesday and may point to softer readings on the U.S. economy to signal that the policy will be extended into 2014.

* Comcast Corp posted lower quarterly profit and revenue in the third quarter, without the boost from the London Summer Olympics a year ago.

* Barclays is cooperating with regulators investigating possible manipulation of currency trading by banks, deepening scrutiny of its conduct as it also grapples with a slump in investment banking income.

* Yamana Gold Inc reported a 28 percent fall in third-quarter profit on Tuesday due to weaker metals prices and lower earnings from the company’s stake in the Alumbrera mine in Argentina.

* French drugmaker Sanofi lowered its 2013 profit guidance for a second time after a slowdown in China, weaker generic sales in Brazil and manufacturing problems at a Toronto vaccine plant dented third-quarter results.


* Canada stock futures traded up 0.19 percent

* U.S. stock futures , , were up around 0.19 percent to 0.44 percent

* European shares, were up


* Thomson Reuters-Jefferies CRB Index : 281.2956; rose 0.03 percent

* Gold futures : $1,348.2; rose 0.1 percent

* US crude : $97.31; fell 0.91 percent

* Brent crude : $109.37; rose 0.33 percent

* LME 3-month copper : $7,282; rose 1.14 percent


* Canadian National Railway Co : The railway company said on Tuesday it still hopes to negotiate a new deal with the Teamsters union and avoid a labor disruption, after talks assisted by government-appointed mediators stretched into the early morning.


Following is a summary of research actions on Canadian companies reported by Reuters.

* Genworth MI Canada Inc : National Bank Financial raises target price to C$34 from C$30 following the company’s better-than-expected third-quarter results.

* Horizon North Logistics Inc : National Bank Financial raises target price to C$9.50 from C$8 as the company’s third-quarter revenue beat estimates.

* Thomson Reuters Corp : National Bank Financial raises to sector perform from underperform as the company’s financial & risk’s net sales turned positive for the first time in eight years.


* No major Canadian economic data scheduled for the day

* Major U.S. events and data includes CPI, real earnings, FOMC rate and ADP national employment index

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